Morgan Stanley Keeps Their Buy Rating on REA Group Ltd (RPGRF)
Morgan Stanley analyst Andrew McLeod maintained a Buy rating on REA Group Ltd (RPGRF – Research Report) today and set a price target of A$280.00. The company's shares closed last Monday at $149.00.
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McLeod covers the Communication Services sector, focusing on stocks such as News Corp, REA Group Ltd, and Seek Limited. According to TipRanks, McLeod has an average return of 1.6% and a 50.00% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for REA Group Ltd with a $165.83 average price target, implying an 11.30% upside from current levels. In a report released on May 9, Citi also maintained a Buy rating on the stock with a A$275.00 price target.
Based on REA Group Ltd's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $983.1 million and a net profit of $441.3 million. In comparison, last year the company earned a revenue of $847.5 million and had a net profit of $127.4 million
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RPGRF in relation to earlier this year.
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